Initial mid-years at $63.5/6.35cents, while traders look for clean spot material

摘要

In the last few days, unconfirmed rumours which state that the first mid-year contracts have been settled have been circulating. Most market insiders have mentioned that numbers of $63.5/6.35cents have been agreed between BHP Billiton and at least one of the Indian smelters, while the miner's negotiations with the Japanese smelters are said to be ongoing. The only other miner which has mid-year contract tonnages, Ok Tedi, is not expected to begin its negotiations over terms until late July.